Every company wants one, hardly any company has one and when it exists it’s a secret: a thoughtful strategy making companies able to face the challenges of digital transformation. A reason might be the various definitions about the characteristics of such a strategy, how detailed it needs to be and which questions it needs to answer. For some companies a “digital strategy” is nothing more than thinking about how to use their Social Media channels, others try to develop and implement completely new business models.
What does digital strategy mean?
At this point we know that digital strategy can have different meanings for every company, that’s why we’ll give a definition for this post at first.
A digital strategy includes all actions a company needs to reinvent themselves digitally along the whole value chain.
The example of the digital factory – the self controlling production – seems to be quite extreme at first sight but in fact, it’s possible to digitize and automate all processes within a production company. But of course one has to ask the question how much sense this will make – even in future. The basis for such an answer always is the analysis of cost and benefit. In the best case all questions regarding digitization depth and rewarding investments are answered within a digital strategy.
Which areas should furthermore be covered?
- Organization of internal processes
- Customer communication and loyalty programmes
- Digital transformation of existing products
- New, digital business models
Why is it so hard to develop a really good digital strategy?
Most companies struggle when it comes to developing a digital strategy. One of the most important reasons for this is the continuous development of new technologies. It’s hard to keep the overview and evaluate those new technologies again and again to find out which one is the best solution. Especially bigger companies suffer from historically grown structures on process and system side. So, it’s nearly impossible to see through the chaos, especially when departments implement own solutions for special projects without asking or informing internal IT-department. To develop a really successful digital strategy numerous experts have to come together to find a common solution fitting everybody’s needs. But of course every department represent their own special interests which often isn’t helpful for finding a common solution.
8 Tips how to develop a digital strategy
Implementation of the strategy in practice
No matter how good a strategy may be, without an appropriate tool the result will never be satisfactory. Due to the challenges facing companies today, special digitization tools have been developed. These offer enormous advantages in terms of speed, usability and maintainability of the applications created – low code is the key to success.
Read on to find out what benefits low code can bring to your business: